The islands in the Mediterranean Sea are attractive not only for tourist holidays, but also for purchasing real estate. A place that is attractive in terms of purchasing real estate for residents of the post-Soviet space and beyond is Cyprus.
MySpace real estate agency has been selling houses and apartments in Cyprus for a long time, conducting consultations with future buyers. In terms of conversation, you will be offered:
- decide on the purchase budget;
- consult with your family about purchasing real estate. What are you planning to buy: apartment, house, villa, etc.;
- distance from the sea;
- area, presence of social facilities in the immediate vicinity, proximity to transport interchanges, etc.;
- if you are buying a villa, think about what it should be equipped with: air conditioning, a swimming pool, a jacuzzi, a shower in the bedroom, security, etc.;
- for what purpose are you buying a home: for your own residence or for passive income, that is, renting out during the holiday season.
The advantages of buying a home in Cyprus include the presence of two airports. People whose work involves flying can choose property in the cities of Larnaca or Paphos.
Tips on how to choose the right property in Cyprus
When viewing properties for sale in Cyprus with the aim of acquiring it as personal property, you must clearly understand that in order to conclude a transaction you must be legally literate and have a good knowledge of the laws of the state.
The state provides VAT relief to buyers purchasing their first property in Cyprus for themselves, and not for commercial purposes. To receive this benefit, you must meet a number of criteria:
- VAT relief is provided only to individuals;
- the person submitting the application must be an adult;
- the property specified in the application must be the main place of residence of an individual who has reached the age of majority;
- after receiving a VAT benefit, the applicant must not purchase another property with this benefit for the next 10 years;
- the applicant must live in the property purchased with a benefit and enter into inheritance rights;
- to receive this benefit, the area of the purchased housing should not exceed 200 square meters. m.
To register this benefit and subsequent purchase and sale, a rational solution would be to hire a legal professional who knows the laws and has experience in this matter.
